New $500 Million Credit Union to Serve Nearly 60,000 Members throughout Florida
MARGATE – We Florida Financial and Peoples Credit Union have completed a merger which will strengthen We Florida Financial’s ability to serve more members throughout the state of Florida. The merger was approved by the members of Peoples Credit Union on July 22 and is effective as of October 1. The two credit unions will be united under the banner of We Florida Financial.
We Florida Financial yielded a 63% growth in assets over the past 5 years – the highest growth among South Florida credit unions. With assets that now total more than $500 million and a membership nearing 60,000, We Florida Financial is currently ranked as one of the top 10 credit unions in the region.
We Florida Financial will assume the existing six Peoples Credit Union branches located in Pembroke Pines, North Miami, Miami, Hialeah and at Mount Sinai Medical Center in Miami Beach. In total, with the acquisition, We Florida Financial will now have 13 convenient branch locations throughout Miami-Dade and Broward Counties to serve its membership, as well as eight non-branch ATM locations, Publix Presto! access and the CO-OP Nationwide Shared Branch Network.
“This merger is another important milestone in the history of We Florida Financial,” said Lloyd Gill, president and CEO of We Florida Financial. “Last year, we rebranded to become We Florida Financial, a name that reflected our growth strategy and this merger reinforces our long-term vision for continued success.”
We Florida Financial and Peoples Credit Unions reflect complementary cultures and membership bases. Both financial institutions share the same philosophy of an investment in the communities they serve, a dedication to fostering financial education and fiscal empowerment.
The larger credit union will be able to make a greater impact in the community by extending programs to a wider audience, offering competitive financial products and loans and providing greater operational efficiencies. Additionally, there will be increased career development opportunities for existing and new financial professionals.
Formerly City County Credit Union of Fort Lauderdale, We Florida Financial has been serving 43 Florida counties including those in South Florida for many decades. Earlier this year, it added a representative to serve the Upper Keys in Monroe County. The merger will fortify the credit union’s presence in the additional counties of Hillsborough, Pinellas and Pasco.
